The security of your deposit is of the utmost importance to us when selecting our partner banks. For this reason we only cooperate with partner banks who are subject to a national deposit guarantee scheme in accordance with EU regulations and which have a full banking license granted by their national supervisory authority.
Although we work with stable and leading banks, we cannot rule out the possibility of a bank insolvency. If such insolvency occurs, the deposit guarantee scheme of the respective country within the EU will compensate deposits of up to EUR 100,000 (or the equivalent in the national currency) per bank and customer. If this occurs, Raisin will inform and support you during the process.
The specific procedure is regulated by the relevant national deposit guarantee scheme based on EU Directive 2009/14/EC (CELEX Nr. 32009L0014) [see EU Directive 2009/14/EC]
Typically, in the event a bank becomes insolvent, a second (solvent) bank – a so-called servicing bank – is nominated to compensate the deposits to the savers covered by the deposit guarantee scheme.
The saver must apply for compensation payment. However, application requirements for repayment of deposits through deposit guarantee schemes differ slightly between each country. Raisin will, of course, provide assistance in the event a partner bank becomes insolvent.
Details about the deposit guarantee scheme of the relevant country can be found in the respective product information sheet and at www.raisin.com/deposit-guarantee/.